Arbitrum

Dogecoin

Sherpa

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 Widely followed crypto trader Altcoin Sherpa is predicting that one red-hot Dogecoin (DOGE) rival is about to undergo a severe market correction.
 The pseudonymous analyst tells his 205,300 followers on the social media platform X that Bonk (BONK) could soon dip to a much lower trading range.
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 However, he warns that the memecoin could still rally higher before the possible dip.
 “BONK: you probably should consider getting out of this (or at least partially) around here. Expecting more downside. With that said, I definitely wouldn’t short it; I think it could still go up to $0.0000190 before more downside. But I do believe it tests much lower levels later.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GDpR4DgWoAAkRwF?format=png&amp;name=medium" alt="Image" width="1200" height="671">
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 Source: Altcoin Sherpa/X
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 Looking at his chart, the trader suggests Bonk may soon enter a trading range with a lower bound at $0.0000100 and an upper bound at $0.0000140.
 Bonk is trading for $0.0000147 at time of writing, up 8,158% from three months ago.
 Next up, the trader says he is bullish on the Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB).
 “ARB what about this chart is bearish? I would enter from here down to $2 and assume this is a great entry. Still bullish on ETH beta for now.”
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GDlcX3PW4AA_tG1?format=png&amp;name=large" alt="Image" width="1351" height="755">
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 Source: Altcoin Sherpa/X
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 Arbitrum is trading for $2.30 at time of writing, up nearly 6% in the last 24 hours.
 Lastly, the trader believes that smart contract protocol Avalanche (AVAX) may retest lower Fibonacci retracement levels and could briefly dip below $30.
 “AVAX: I suspect that a lot of these projects are going to bounce at key fib levels. AVAX did at the .382 ($34.13). Still think this one trades a bit lower to be honest. Nabbing sub-$30 would be solid.”
 <figure style="width: 100%" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GDkzk7LXIAUoh_i?format=png&amp;name=medium" alt="Image" width="1200" height="671">
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 Source: Altcoin Sherpa/X
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 Avalanche is trading for $37.46 at time of writing, down more than 4% in the last 24 hours.
 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-predicts-downside-for-dogecoin-rival-that-s-up-over-8-000-in-three-months-updates-outlook-on-arbitrum-tbt76444.html">https://thebittimes.com/trader-predicts-downside-for-dogecoin-rival-that-s-up-over-8-000-in-three-months-updates-outlook-on-arbitrum-tbt76444.html</a>

Trader Predicts ‘Downside’ for Dogecoin Rival That’s Up Over 8,000% in Three Months, Updates Outlook on Arbitrum

TheBitTimes

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